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    US stocks edge higher as traders eye inflation data and earnings season kickoff

    • January 15, 2025
    • admin

    Wall Street saw a modest uptick on Tuesday as investors turned their focus to upcoming US inflation data following a better-than-expected producer price index (PPI) report.

    The Dow Jones Industrial Average climbed 225 points (0.5%), while the S&P 500 and Nasdaq Composite added 0.3% and 0.1%, respectively.

    Despite the overall gains, big tech stocks showed mixed performance, with Nvidia and Meta Platforms falling over 1% each, while Palantir Technologies and Tesla posted gains of 2.9% and 1.8%, respectively.

    The Bureau of Labor Statistics reported a 0.2% increase in December’s PPI, which measures wholesale inflation, significantly below the 0.4% forecast by economists polled by Dow Jones.

    Core PPI, which excludes volatile food and energy prices, remained flat.

    These figures provided a glimmer of hope for traders hoping the Federal Reserve is nearing its inflation-control targets.

    Market participants are now keenly awaiting Wednesday’s consumer price index (CPI) report, a key inflation gauge.

    Analysts expect headline CPI to rise 0.3% in December.

    “If CPI comes in hotter than expected, it would certainly be bad news for equity markets because it would imply that the Fed will indeed remain slower to lower interest rates,” warned Sam Stovall, chief investment strategist at CFRA Research.

    Fed futures trading indicates near-certainty that the Federal Reserve will keep rates steady at its upcoming meeting.

    Current market pricing suggests a 77.9% probability that the central bank will maintain its target range of 4.25%-4.5% through March, according to the CME FedWatch tool.

    Big banks to kick off earnings season

    Investors are also bracing for the fourth-quarter earnings season, which begins with major banks this week.

    Industry heavyweights including JPMorgan Chase, Citigroup, Goldman Sachs, and Wells Fargo are set to report results on Wednesday, with Morgan Stanley and Bank of America following on Thursday.

    Sector performance: utilities surge, healthcare stumbles

    Utilities led the market gains on Tuesday, with the sector advancing 1.4%. Vistra was a standout performer, surging over 5%, while Constellation Energy climbed 4%.

    Other notable gainers included NRG Energy (up 3%) and AES Corp (up 2%). Industrial, materials and financial sectors also recorded gains of at least 1.2%.

    On the downside, healthcare stocks dragged the S&P 500 lower, with the sector falling 1.6%.

    Eli Lilly posted the steepest decline, dropping over 7%, followed by Charles River Laboratories (down nearly 6%) and Biogen (down at least 3%).

    The communications services sector also slumped, declining 1.2%, led by a 3% drop in Meta Platforms.

    Nike hits three-year low

    Nike shares slid 1.7% on Tuesday, marking their lowest level since March 2020.

    The stock has fallen 14% since Elliott Hill took over as CEO in October.

    As Wall Street braces for inflation data and a flurry of earnings reports, investors remain cautious but optimistic about market recovery, with tech and banking sectors in focus.

    The post US stocks edge higher as traders eye inflation data and earnings season kickoff appeared first on Invezz


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      Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


      By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.
      Popular Topics
      • Upwork stock price risky pattern points to a 30% crash
      • M&G stock soars as Dai-ichi Life buys 15% stake in strategic partnership
      • India’s Q4 GDP growth hits 7.4%, but FY25 slows to 4-year low of 6.5%
      • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson
      • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

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